Direct payments to taxpayers provided, and money appropriated.
Direct payment to taxpayers provision
Income and property tax provisions modified, unlimited subtraction allowed for Social Security income, first and second tier income tax rates reduced by one percentage point, direct payments to taxpayers provided, valuation limit modified for property and homestead market value exclusion increased, and refundable child credit allowed.
Individual income and corporate franchise tax provisions modified, employer-provided dependent care assistance subtraction allowed, and employer-provided child care expenses tax credit established.
Full Social Security benefit subtraction and public pension benefit subtraction establishment
Full Social Security benefit subtraction and public pension benefit subtraction establishment
Full Social Security benefit subtraction and public pension benefit subtraction establishment
K-12 education expense subtraction and credit modification
Providing a subtraction for foreign service retirement pay
Individual income tax provisions modified, K-12 education expense subtraction and credit modified, credit to tuition extended, subtraction and credit amounts increased, credit income phaseout increased, and credit and subtraction amounts and credit phaseout thresholds for inflation adjusted.